The Board of Gujarat Gas has sanctioned plans for a merger and demerger involving GSPL and GSPC. Gujarat State Petronet Limited (GSPL) has approved a major restructuring initiative that will consolidate Gujarat State Petroleum Corporation (GSPC), GSPL, and GSPC Energy Limited (GEL) into Gujarat Gas Limited (GGL).
Shardul Amarchand Mangaldas & Co has provided legal counsel to Gujarat State Petroleum Corporation Limited (GSPC) on merger involving Gujarat State Petronet Limited and GSPC Energy Limited into Gujarat Gas Limited, alongside the demerger of the gas transmission business into GSPL Transmission Limited.
This scheme encompasses the transfer of multiple assets across regulated sectors, including gas transmission, gas trading, and oil and gas exploration.
The transaction is recognized as the third largest M&A deal of 2024 to date.
The advisory team was led by Jatin Aneja, Partner and National Practice Head for Infrastructure, Energy, and Project Finance, along with partners Anirudh Das and Kushal Sinha. Additional team members included Principal Associate Kanwardeep Kapany, Senior Associates Aditya Thyagarajan and Ishita Sehgal, and Associates Sankalp Udgata and Pratyush Gupta.
The competition aspect of the deal was managed by a separate team led by Partner Manika Brar, with contributions from Principal Associate Zul Shukla, Senior Associate Anjali Kumar, Partner VR Neelakantan, and Senior Associate Anuj Singh Chauhan, who provided guidance on the regulatory framework relevant to the oil and gas assets involved.
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